Period

This is the period. This field is informational only and cannot be edited.

 

This Year Budget

This is the budget amount for the current year.

 

This Year Balance

When you close a period, this field will be updated with the balance for the current account. The period updated will be the period being closed. If the current account is an income statement account, this field will be updated with the period-to-date balance. If the current account is a balance sheet account, this field will be updated with the current balance.

 

When you close the year, the This Year Balance amounts are copied to Last Year Balance period by period, and the amounts for This Year Balance for all periods are set to zero. This field is informational only and cannot be edited.

 

Last Year Budget

This is the budget amount for last year.

 

Last Year Balance

When you close the year, the This Year Balance amounts are copied to Last Year Balance period by period, and the amounts for This Year Balance for all periods are set to zero. This field is informational only and cannot be edited.